Shares of Apple (NASDAQ: AAPL) rose more than eight percent after the company announced a surprise 7-for-1 stock split.

As of this writing, Apple is hovering near $600 -- an achievement not seen since November 2012.

Before earnings and the stock split were revealed, Creative Global predicted that Apple would remain under pressure and move toward $420. Apple seems to have avoided this potential pitfall, but will its success last?

"In general, I think that Apple will increase its marketability by decreasing the price of its shares," Gabriel Mengin, CCO of Great Point Capital, told Benzinga. "I think that there's people that are going to be more willing to engage the security in the ballpark of $70 a share than they were when they were potentially priced out at the higher valuation."